Pre-82 pennies.

meh. was going to post something shorter than this.
but it seemed rude

 

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I think i just got stuipder raeding those posts

 

I mean its obviously a difference of opinion. LOL!

Although we all know what you meant, technically, scyther is correct. You did say 0.50 cents. 50 cents and 0.50 cents have two different values.

Anyone remember the great Verizon conversation about this.
http://www.youtube.com/watch?v=D2isSJKntbg

 

Or, to put it another way, .50 dollars = 50 cents, but .50 cents does not equal 50 cents.

Of course we all knew what you meant, but once you call a person out on being in grade school, then it doesn't matter what you meant, it matters what you wrote.

 

Ahh now I see what he was saying. My apologies scyther.

 

It would appear so.

 

:bow:

 

As I said above I apologize

 

By all means you are forgiven

 

Anyway, back to pre-82 pennies. I have a friend who is going to sell rolls at $1.00 a roll. I figure that's close to the value of the copper in them, and in roll form they store well. I am just going to hang onto them like bullion and see what happens. It takes up a lot more room than silver, but it's a cool experiment in holding onto value.

 

Hang on to them and keep your eyes open for a buyer. A while back I was selling all I could find for two cents each. I sold about five hundred dollars worth and bought silver with the profits.

 

All LMC I find today per-82 Au+ Coins I put in rolls :thumb:.I can can still recall folks as a kid saying Wheat cent will never be worth more than 1c.
We all Know that was wrong:devil:.

 

wait...what am I missing here? why on earth would you pay $1 per roll when you can buy them for face value at the bank? I occasionally search penny rolls for wheats, and can find about a dozen wheats per $25 box, but pre-82 copper numbers average 25-50% of the roll. I know that sorting pennies takes effort, but I can separate a $25 box of pennies for the copper over the course of an hour or two in front of the tv.

Copper is never going to explode in value in the way that precious metals occasionally do. First of all, compared to PMs, there is a virtually limitless supply of it in the earth's crust. Moreover, it's heavily recycled, and as an industrial metal, every time the price goes up, somebody figures out a way to use less of it. How many plumbers these days still put copper in a new build?

Don't get me wrong - it's a fun experiment to hold your copper pennies in the hopes of someday being able to sell them at melt. I have a couple hundred rolls in my safe. But when a copper penny can be bought at a face value that is half its melt value, it makes no sense to pay melt on the price. The guys who bought (and continue to buy) copper rounds from the online dealers are getting taken to the cleaners by sellers who are simply riding the current wave of popularity in physical metals.

 

I was sorting $25 boxes for pre-82s recently and realized if I weighed the rolls as I took them out of the box I could weed out the mostly zinc (light weight) rolls and concentrate on the heavier, more copper coin loaded rolls. Saves a lot of time.

 

If you're not separating by year, and are just separating a roll by pre or post 1982, I can separate a roll in approximately 90 seconds.

 

I could probably do it in a minute tops.

 

.

 

After a few years of roll-searching, my average in sorting coppers from zincolns in a roll is about 45 seconds. I find my copper averages are about 1 in every 3 coins.

 

In my defense, I'm watching tv while I do it.